Bankers and the farm bill
Farm and Ranch November 11, 2011 During the recent 2011 National Agricultural Bankers Conference lenders were hearing a lot of rumors about a new farm bill. John Blanchfield who heads up the American Bankers Association’s Center for Ag and Rural Banking doesn’t think this is the best time to be writing a long term farm law. Blanchfield: “USDA projects 25% increase in net cash income in 2011 over 2010. A 25% increase. For farm policy this is a terrible time to debate a new farm bill because the perception is agriculture doesn‘t need anything. That is true…this year. I just saw a quote from Clayton Yeutter and Clayton Yeutter spoke on this issue. He is a former Secretary of Agriculture and one of the most intelligent Secretarys of Ag I have known. He said you know we don‘t want to through out the baby with the bathwater here. And I thought that was pretty interesting because he understands that agriculture is very cyclical, very volatile. And I hope we don‘t write a farm bill that leaves everybody out in the cold. That is my big concern.” Blanchfield points to the willingness of some to give up part of the current safety net. Blanchfield: “I see now a lot of farm organizations said look, do away with the direct payment. Give us some sort of revenue assurance and we will keep on farming. Don‘t worry about it. I just worry that that might be just a little shortsighted.” I’m Bob Hoff and that’s the Northwest Farm and Ranch Report on Northwest Aginfo Net. ?
